Garjang Upatyaka Hydropower to Issue IPO | Muktinath Capital Appointed as Issue Manager
Garjang Upatyaka Hydropower Limited is preparing to issue its Initial Public Offering (IPO) with Muktinath Capital Limited as the designated issue manager. A formal agreement was signed between the two companies to initiate the IPO process. The agreement was signed by Arun Kumar Shrestha, Chairman of Garjang Upatyaka Hydropower, and Kabindra Dhoj Joshi, CEO of Muktinath Capital.
Under this plan, Garjang Upatyaka Hydropower will issue 10 lakh units of ordinary shares at a face value of Rs. 100 per share, amounting to a total of Rs. 10 crores. This public offering represents 20% of the company’s issued capital of Rs. 50 crores.
Originally incorporated as a private limited company, Garjang Upatyaka Hydropower was later converted to a public limited company to facilitate public investment. The company operates the 2.83 MW Chake Khola Hydropower Project, a run-of-the-river facility located in the Ramechhap district. The project is already in commercial operation.
The IPO will be launched following necessary approvals from regulatory authorities. Investors are advised to stay tuned for further updates on the issuance timeline and application procedures.
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